For these analysts, the Bitcoin (BTC) price drop was no surprise

Bitcoin (BTC), the most famous and groundbreaking digital payment instrument, is the focus of our analysis today. We focus on Bitcoin price prediction for the coming period. This article contains technical analysis from our premium environment.

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Technical analysis of Bitcoin price (BTC).

Analysts at Crypto Insiders had recently warned in their Bitcoin analysis that the price could soon fall. This is what they said a few days ago in the premium environment:

“Earlier this year, Bitcoin immediately hit a new local high, surpassing the previous high of $44,700.

However, we expect significant resistance from the psychologically important level of $46,000 and again within the blue zone ranging from $46,288 to $47,920. Given the strong resistance in this zone, we expect a significant decline in BTC price.

Our team is watching closely to see if the price convincingly breaks below $41,200 and stays there. Should this occur, it would indicate a change in structure and the need to consider a possible short-term trend reversal.”

We now know that Bitcoin has actually faced resistance around $46,000. However, the Bitcoin chart fell faster than expected after news that a Bitcoin ETF may not be approved after all.

Nevertheless, the price has not convincingly broken through the lower boundary and this analysis has not yet been invalidated. In the premium environment, our analysts are closely monitoring the situation and will quickly release a new plan if the price continues to fall.

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Date of analysis: January 2nd. Link to trading view:

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Disclaimer: Investing involves risks. Our analysts are not financial advisors. Always consult an advisor when making financial decisions. The information and tips provided on this website are based on our analysts' own insights and experiences. These therefore serve exclusively educational purposes.

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